California State Teachers Retirement System Has $80.67 Million Position in The Allstate Corporation $ALL

Key Points

• California State Teachers Retirement System reduced its Allstate position by 2.7%, selling 10,828 shares and retaining 389,068 shares valued at approximately $80.67 million. Institutional investors collectively own 76.47% of Allstate.
• Allstate reported quarterly earnings of $10.65 per share, surpassing estimates of $7.31, while revenue reached $16.94 billion and rose 3% year over year.
• The company declared a quarterly dividend of $1.08 per share, representing an annualized payout of $4.32 and a 1.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $254.80.

California State Teachers Retirement System cut its position in The Allstate Corporation (NYSE:ALL - Free Report) by 2.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 389,068 shares of the insurance provider's stock after selling 10,828 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Allstate worth $80,669,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. grew its stake in shares of Allstate by 0.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 7,809 shares of the insurance provider's stock valued at $1,625,000 after acquiring an additional 50 shares in the last quarter. Compound Planning Inc. grew its position in shares of Allstate by 1.6% during the 4th quarter. Compound Planning Inc. now owns 3,216 shares of the insurance provider's stock worth $669,000 after purchasing an additional 50 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in shares of Allstate by 0.9% during the 4th quarter. Cullen Frost Bankers Inc. now owns 5,815 shares of the insurance provider's stock worth $1,210,000 after purchasing an additional 52 shares in the last quarter. Root Financial Partners LLC increased its holdings in shares of Allstate by 4.7% during the first quarter. Root Financial Partners LLC now owns 1,170 shares of the insurance provider's stock worth $243,000 after purchasing an additional 53 shares during the period. Finally, Montag A & Associates Inc. increased its holdings in shares of Allstate by 10.2% during the fourth quarter. Montag A & Associates Inc. now owns 596 shares of the insurance provider's stock worth $125,000 after purchasing an additional 55 shares during the period. Institutional investors own 76.47% of the company's stock.

Allstate Price Performance

ALL stock opened at $274.16 on Thursday. The stock has a market cap of $70.58 billion, a price-to-earnings ratio of 6.05, a P/E/G ratio of 0.47 and a beta of 0.16. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.36 and a quick ratio of 0.36. The company has a 50 day simple moving average of $233.97 and a 200 day simple moving average of $217.36. The Allstate Corporation has a 1 year low of $188.08 and a 1 year high of $277.22.

Allstate (NYSE:ALL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The insurance provider reported $10.65 earnings per share for the quarter, beating analysts' consensus estimates of $7.31 by $3.34. The firm had revenue of $16.94 billion for the quarter, compared to analyst estimates of $15.24 billion. Allstate had a net margin of 17.81% and a return on equity of 42.66%. The company's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $3.53 earnings per share. Research analysts anticipate that The Allstate Corporation will post 30.69 EPS for the current fiscal year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, August 31st will be issued a dividend of $1.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $4.32 annualized dividend and a dividend yield of 1.6%. Allstate's dividend payout ratio (DPR) is 9.53%.

Insider Activity at Allstate

In other Allstate news, Director Andrea Redmond sold 2,225 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $202.91, for a total value of $451,474.75. Following the completion of the transaction, the director directly owned 2,225 shares in the company, valued at approximately $451,474.75. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Q. Prindiville sold 1,550 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $216.27, for a total value of $335,218.50. Following the sale, the insider owned 27,558 shares in the company, valued at approximately $5,959,968.66. This trade represents a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,353 shares of company stock valued at $4,851,560 in the last 90 days. 1.55% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Cantor Fitzgerald raised their price objective on Allstate from $236.00 to $242.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Piper Sandler reissued an "overweight" rating on shares of Allstate in a report on Thursday, May 28th. Wall Street Zen upgraded Allstate from a "hold" rating to a "buy" rating in a research report on Monday, July 20th. JPMorgan Chase & Co. upped their price objective on shares of Allstate from $263.00 to $282.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 14th. Finally, HSBC downgraded shares of Allstate from a "buy" rating to a "hold" rating and upped their price target for the stock from $244.00 to $264.00 in a report on Monday, July 6th. Three research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $254.80.

Allstate Company Profile

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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